Dubai-based Emirates airline has said it anticipated a return to 100% of its network within the coming days, subject to airspace availability, while Abu Dhabi-based Etihad Airways said it has restarted a limited commercial flight schedule on Friday (March 6).
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The United Arab Emirates and Japan have agreed on the final provisions of a Comprehensive Economic Partnership Agreement (CEPA), the first of its kind for Japan with an Arab country.
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Shipping insurers are likely to re-examine their ability and willingness to provide cover due to the present situation around the Arabian Gulf, International Union of Marine Insurance (IUMI) has said.
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The future of the Saudi heavy construction equipment market appears promising, driven by ongoing government initiatives and urbanisation trends. Under its Vision 2030 initiative, the kingdom aims to invest over $500 billion in mega housing and urban development projects, thus driving demand for advanced machinery, said a report.
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The gravity of the situation in the Middle East has moved from high to severe and consequently, the potential for events to weaken credit quality across sectors has increased, says an S&P Global Ratings report.
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Dubai-based Emirates and flydubai have said with the limited re‑opening of airspace, the airlines are operating a reduced flight schedule from Dubai until further notice.
Saudi Logistics Services Company has announced the signing of a sale and purchase agreement with Aviapartner Belgium NV and Aviapartner Holding NV for the acquisition of 100% stake in Belgium airport ground handling firm Aviapartner Liege for SAR123 million ($32.8 million).
A luxury apartment in Dubai has been sold off-plan for AED422 million ($114.91 million), and the deal has been hailed as powerful sign of confidence in the city’s real estate market, and security in the UAE.
The UAE banking and financial sector is resilient, strong, stable, and well-positioned to navigate regional developments, said Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates.
Oman has awarded contracts worth RO186.3 million ($483 million) for two key infrastructure development projects - the Muscat Expressway Expansion and the Ibra Road Dualisation. The scope of work includes construction of independent two-lane flyovers as well as key road expansion.
Saudi Arabia's heavy construction equipment market is poised for solid growth over the next few years with the market set to hit $3.5 billion by 2030, driven by the ongoing government initiatives and urbanisation trends. As the country continues to invest in mega projects, the demand for advanced machinery is set to rise, said a report.
Travel disruption across the Gulf region has entered its fifth day, with thousands of passengers still stranded and airlines operating only limited flights out of major hubs like Dubai and Abu Dhabi amid continued regional conflict and widespread airspace closures.
US President Donald Trump has said the US navy will protect ships in the Middle East and the government will provide insurance "if necessary" in a bid to contain soaring energy prices sparked by the US-Israel war with Iran.
All terminals at Jebel Ali Port in Dubai are operating normally, said DP World, a leading provider of smart end-to-end logistics solutions and the port operator. Jebel Ali is the largest port in the Middle East, serving as a critical gateway for trade across Asia, Europe, Africa and the Americas.
Aldar Properties confirmed operations across its residential communities, retail destinations, commercial offices, logistics facilities, hotels, schools and development sites in the UAE continue without interruption and the company remains operationally and financially resilient.
QatarEnergy is offering for lease 10 liquefied natural gas tankers currently located outside the Strait of Hormuz, said a report. These include at least four Q-Flex tankers with a 210,000 cu m capacity, which are able to carry up to 50% more volume than conventional LNG tankers mainly used for export to Europe or Asia.
With airspace over Saudi Arabia and Oman open, Air India and Air India Express continue to operate scheduled flights to and from the kingdom's port city Jeddah and the sultanate's capital Muscat. To support guests stranded in the region, the duo will operate 43 flights across the region today (March 7).
The US will provide reinsurance covering up to $20 billion in potential losses in the Gulf region to bolster confidence among oil and gas shippers during the conflict with Iran, reported Reuters citing the US International Development Finance Corporation.
The future of the Saudi heavy construction equipment market appears promising, driven by ongoing government initiatives and urbanisation trends. Under its Vision 2030 initiative, the kingdom aims to invest over $500 billion in mega housing and urban development projects, thus driving demand for advanced machinery, said a report.
UAE-based Imtiaz Developments said it has achieved a key milestone by becoming the first developer in Dubai to complete and hand over a signature residential project at Dubai Islands. This feat was made possible with the successful delivery of Beach Walk by Imtiaz.
PureHealth, the largest healthcare group in the Middle East, and Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East and South Africa, have signed a master lease agreement to bring clean electricity to its network of hospitals and clinics in the UAE.
Dubai-based Union Properties has sealed a membership agreement with the Massachusetts Institute of Technology (MIT) through its globally recognised Industrial Liaison Programme in a move aimed at developing future-oriented models to help accelerate technology-led transformation in real estate.
UAE-based 2PointZero Group, a next-generation investment powerhouse focused on energy and consumer sectors, has acquired a majority stake in ISEM, a major European packaging group with interests in beauty, fashion, luxury and nutraceuticals, for AED704 million ($192 million).
Sharakah, Oman’s leading SME development company, has signed a memorandum of understanding (MoU) to provide Anfal Industries & Trading Company SPC, an Omani-owned manufacturer and distributor of industrial, cleaning, and laboratory chemicals, a Shariah-compliant financing facility to support its working capital requirements.
Zoho Corporation, a global technology company, marked its 30th anniversary on Thursday with the announcement that it is now a trusted technology provider to more than one million paying customers and more than 150 million users globally.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
The Endowments and Minors’ Funds Authority – Awqaf Abu Dhabi - has signed a memorandum of understanding with LuLu Group International to develop a portfolio of commercial projects valued at AED100 million ($27.23 million) on Awqaf Abu Dhabi endowment land, with returns supporting long-term care and improved quality of life for orphans in the UAE.
Saudi Arabia has announced that a cruise missile was intercepted and destroyed east of Al-Kharj Governorate.
